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The
company's 23.5 percent rise in third-quarter revenue was driven
by increased spending by clients in the healthcare and financial
sectors in North America.
The healthcare unit has led Cognizant's growth in the past year,
driven by its $2.7 billion acquisition of U.S. healthcare IT
services provider TriZetto Corp and the implementation of the
U.S. Affordable Care Act, or Obamacare.
Revenue from the company's healthcare division rose about 43
percent to $939.2 million, accounting for about 30 percent of
total revenue.
The business provides services such as claims processing,
billing and call center operations to insurers, hospitals and
some state-run healthcare exchanges set up under Obamacare.
Revenue from the company's financial services business, its
biggest, rose 18.6 percent to $1.28 billion.
Cognizant raised its full-year adjusted profit forecast to at
least $3.03 per share from $3 per share.
The company also raised its 2015 revenue view to at least $12.41
billion, a 21 percent jump from total revenue of $10.26 billion
in 2014. The previous forecast was $12.33 billion.
Analysts on average were expecting a full-year profit $3.04 per
share and revenue of $12.40 billion, according to Thomson
Reuters I/B/E/S.
The company's net income rose 11.7 percent to $397.2 million, or
65 cents per share in the third quarter. Excluding items, profit
was 76 cents per share - in line with estimates.
Cognizant's total revenue rose 23.5 percent to $3.19 billion,
beating the average analyst estimate of $3.16 billion.
Up to Tuesday's close, Cognizant's stock had risen about 30
percent this year, compared with an 8 percent increase in the
S&P 500 IT Services index.
(Reporting by Abhirup Roy in Bengaluru; Editing by Savio D'Souza
and Saumyadeb Chakrabarty)
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